CAR Conference Speaker: Vehicle Sales Will Slow But Remain Robust

LAS VEGAS – Vehicle sales will slow, but will remain robust in the next few years, said Nicholas Lobaccaro of Lehman Brothers. Lobaccaro gave several points in discussing his outlook for the used-vehicle industry:

  • Sales will slow, but will remain robust. "If the industry used to be happy with 15 million vehicles sold, they’ll be happy in the next few years," Lobaccaro said.
  • Other trends that Lobaccaro predicted were that hybrid vehicles will go up in sales, and cars would decline. Traditional trucks will hold their own or decline a bit. Also, the Internet will drive marketing and cost efficiencies, and will improve customer satisfaction.
  • There will be an increased supply of near-new vehicles. Vehicles will have improved quality. Customers will have improved access to credit. There will continue to be higher volumes of off-lease vehicles.
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